Cisco's shares experienced an increase in after-hours trading following the release of its fiscal first-quarter earnings, which showed adjusted earnings per share (EPS) of $1.40, surpassing the expected $1.33. The company reported revenue of $18.5 billion, exceeding the $18.1 billion forecast and marking a 24% increase from $14.88 billion in the same quarter last year.
Net income rose to $4.6 billion, or $1.14 per share, compared to $2.9 billion, or 72 cents per share, a year prior. Cisco is positioning itself to capitalize on the growing demand for artificial intelligence infrastructure, raising its revenue expectations from hyperscalers to $9 billion for the fiscal year, more than double the figure projected for fiscal 2026.
CEO Chuck Robbins emphasized that organizations are increasingly relying on Cisco's technology and expertise to navigate the evolving AI landscape.
For the upcoming fiscal second quarter, Cisco anticipates revenue between $18 billion and $18.2 billion, exceeding the average analyst estimate of $17.88 billion, and expects adjusted EPS of $1.34 to $1.36, which also surpasses the $1.23 average estimate